empty
 
 
16.08.2012 12:08 PM
GOLD Intraday Technical Analysis

This image is no longer relevant
 

 

Gold bounded off to the lower limit of its medium term bullish channel at 1,591 and is testing now the intermediate resistance of this one at 1,608 suggesting a decline. However a break of these levels would free a large potential and reach the upper limit of its channel at 1,633.
Technical indicators provide sell signals but until the resistance is not broken the assumption of a decline is most likely. Bollinger bands are much discarded as a result of a strong decline these days. Stabilization is expected in a short term.
The spot rate tests the intermediate resistance of its channel then we recommend 2 scenario: The first one is the hypothesis of a decline then we recommend a sell on the level of 1,608 with the 1st objective at 1,598 and then at 1,595. A break through 1,611 will invalidate this scenario. The second scenario is the hypothesis of a break of its resistance then we recommend a “buy stop”. We suggest to buy the spot rate as soon as it has broken through its resistance of 1,608 with the 1st objective at 1,618 and then at 1,625. A breakthrough 1,605 will invalidate this scenario.

InstaForex Analyst,
Analytical expert of InstaForex
© 2007-2026
Summary
Urgency
Analytic
InstaForex Analyst
Start trade
通过InstaForex赚取加密货币汇率变动的收益。
下载MetaTrader 4并开启您的第一笔交易。
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $10000 more!
    In January we raffle $10000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

推荐文章

现在无法通话?
提出您的问题,用 在线帮助.
Widget callback